Iconic Paeroa property a bottler

The land and buildings housing one of New Zealand’s most instantly recognisable cafes is for sale.

Paeroa’s L&P Cafe Bar and Brasserie boasts a six-metre-tall replica soft drink bottle – one of two in the town – outside its front doors.

The sale comes when there is growing interest in property in Paeroa and its nearby Hauraki towns, according to Paeroa Harcourts branch manager Connie Muir.

She said buyer demand for residential property in Paeroa was strong with the relative affordability an attractive factor.

‘‘The average sale price for residential property in Paeroa for the year to April is $346,329 and about 17 per cent of sales are to people moving in to the area.’’

Muir said as a result of the interest, there was a shortage of properties available with 22 per cent of interest coming from first-home buyers, again driven by affordability.

The average sale price had fallen back a little from $352,400 recorded in the year to April 2017.

‘‘Paeroa is centrally located and is at the junction of three state highways, conveniently within a 11⁄2 -hour drive of three main cities. Paeroa is centrally located to enjoy the Coromandel Peninsula, the Bay of Plenty and the Waikato.’’

Bayleys northern Waikato commercial property specialist, Josh Smith, covers all the rural towns from Huntly and Pokeno in the west, to Waihi in the east and the area’s strategic location on SH2 between Auckland and Tauranga meant most settlements were expanding.

‘‘There’s a lot of interest coming in from Auckland, the Waikato and Bay of Plenty. We’ve had the big lift in prices and they’re holding firm. The industrial subdivision at Kerepehi has sold out and there is a subdivision of about 50 sections adjacent to the former racecourse.’’

Bayleys Tauranga representative Jo Stewart said the L&P Cafe Bar and Brasserie building was located on the town’s main arterial route which was